The youngest of six siblings, Jaime Flores was the only one in his family born in the United States. And he’ll be the first to pursue a college degree.
He spent his senior year of high school interning at Best Buy as part of our partnership with Genesys Works, an organization that provides career pathways for high school students from disinvested communities.
It’s been a valuable opportunity for him to work at a Fortune 500 company, as he prepares to pursue a career in mechanical engineering.
MINNEAPOLIS, August 25, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended August 1, 2020 (“Q2 FY21”), as compared to the 13-week second quarter ended August 3, 2019 (“Q2 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q2 FY21 | Q2 FY20 |
| Enterprise | $9,910 | $9,536 |
| Domestic segment | $9,128 | $8,821 |
| International segment | $782 | $715 |
| Enterprise comparable sales % change1 | 5.8% | 1.6% |
| Domestic comparable sales % change1 | 5.0% | 1.9% |
| Domestic comparable online sales % change1 | 242.2% | 17.3% |
| International comparable sales % change1 | 15.1% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 5.7% | 3.3% |
| Non-GAAP operating income as a % of revenue | 5.9% | 4.0% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.65 | $0.89 |
| Non-GAAP diluted EPS | $1.71 | $1.08 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Best Buy is proud to be among 98 companies named to the 2020 Diversity Best Practices Inclusion Index.
We’re one of just two retailers on the index, which helps us understand trends and gaps in demographic representation within our organization.
“I believe everyone should have an equal opportunity to achieve their dreams and be provided with access to resources and the support to do so,” said Amelia Hardy, vice president of inclusion and diversity. “Best Buy is committed to becoming one of the best places to work by creating space and experiences to allow employees, customers and communities to succeed.”
Bees are an essential part of our food supply, pollinating more than one-third of the world’s crops. And Best Buy is committed to playing a small role in helping them thrive.
For the past three years, we have partnered with groups in the Minneapolis-St. Paul area to sponsor two beehives, each buzzing with about 70,000 honeybees.
The hives are part of Best Buy’s broader efforts to positively impact the world.
“Sponsoring these beehives is a great example of how we partner with others in the community to promote environmental sustainability,” said Tim Dunn, Best Buy’s head of environmental sustainability.
Brandy Cardozo, the general manager at our Best Buy store in Melbourne Beach, Florida, remembers the exact moment a fire was lit in her to become a strong female leader.
She was working for a different retailer at the time, when her boss came up to her and said, “I don’t know why you’re working so hard. Your kind never gets promoted.” He was talking about women.
She eventually did get promoted, but one day she looked around and realized how discouraged she was by being the only woman in the room of male leaders.
We can all agree that, so far, 2020 has turned out differently than what we might have expected. And now, the holiday season at Best Buy, including Thanksgiving Day, is going to look different, too.
To meet our customers’ changing lives this holiday, we’re enhancing the way we fulfill orders, from offering more convenient pickup options at our stores to making sure BestBuy.com orders arrive at the right time. We’re also going to start offering some of the hottest deals of the season earlier than ever, to make it even easier for our customers to check off their gift lists.
MINNEAPOLIS, July 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced updates related to employee pay evolution and Q2 FY21 quarter-to-date sales performance.
The company is raising the starting hourly wage for all Domestic employees to $15 effective Aug. 2.
“Strong consumer demand, combined with shopping experiences that emphasize safety and convenience, has helped produce our sales results to date,” Best Buy CEO Corie Barry said.
Best Buy is proud to announce that we have signed on as a founding member of the Parity.org ParityPledge in Support of People of Color.
It’s a public commitment to interview at least one qualified person of color for every open leadership role that is at the vice president level or higher, including the C-suite and board of directors. There are no quotas or deadlines.
This latest pledge is in addition to the ParityPledge in Support of Women, which we previously signed to increase the representation of women in leadership.
As COVID-19 cases continue to rise throughout the country, Best Buy is joining many retailers by requiring all customers to wear face coverings when shopping in all our stores.
We will provide a face covering if a customer doesn’t have one, and small children and those unable to wear one for health reasons may enter without one. Any customer who has a concern about wearing a mask will be able to shop Best Buy via our website and app and choose home delivery or contactless curbside pickup, which remains in place at all our stores.
Best Buy is proud to be named to the list of Best Companies for Women to Advance 2020, a new list from Parity.org that recognizes companies that have made significant commitments to the advancement of women.
We were one of only 35 companies that made the list, including just 11 large companies (5,000 or more employees).
“We are determined to be an inclusive and diverse company, not just because it’s good business sense but because it’s our fundamental obligation as leaders and as human beings,” said Kamy Scarlett, Best Buy chief human resources officer.
For many years, the purchasing power and business ownership of Black Americans has increased while, at the same time, there has also been a movement to support Black businesses across the country. This effort has come to be known as Blackout Day and, this year, Best Buy joins many others in offering our support. That’s the encouraging news.
The unfortunate news is that as we looked to highlight the Black-owned businesses that we purchased consumer electronics or accessories from, we realized just how short that list is.
Best Buy has once again earned a perfect score of 100% on the Disability Equality Index (DEI), ranking among the leading companies on the list of Best Places to Work for Disability Inclusion.
The DEI is a prominent benchmarking tool for Fortune 1000 companies and leading law firms to gauge their level of disability workplace inclusion against competitors. The criteria include culture and leadership, enterprisewide access, community engagement, supplier diversity and employment practices, such as benefits, recruitment and retention.
At Best Buy, we believe that an accessible and inclusive workplace is vital to attracting and retaining the best talent and to delivering a great employee experience.